The firm initiated coverage with an 87% upside projection from SpaceX’s current $160.42 level, citing AI and vertical integration.
Morgan Stanley initiated coverage on SpaceX with a $300 base-case price target, implying 87% upside from the stock’s $160.42 close on July 7. The firm also outlined a $600 bull case and a $75 bear case, reflecting high uncertainty around the company’s long-term prospects.
SpaceX raised $85.7 billion in its June 12 IPO at $135 per share, with the stock peaking at $225 before settling near $160. The company joined the Nasdaq-100 on July 7, triggering an estimated $4.3 billion in passive inflows, according to JPMorgan.
Morgan Stanley’s thesis centers on SpaceX’s ability to integrate orbital infrastructure, global connectivity, and computing power, positioning it as a leader in AI-driven frontier markets rather than just aerospace.